Global Gateway Development Corp. (GGDC), which is backed by Kuwaiti investors, broke ground last Wednesday for the first phase of the multimillion-dollar Aeropark Campus in its 177-hectare Global Gateway Logistics City (GGLC) inside the Clark Freeport Zone.
Mark Williams, CEO of KGL Investment Company (KGLI)-managed GGDC, said Quad 1 of the Aeropark Campus involves the construction of five office buildings across The Medical City Clark Hospital, which was also developed by GGDC.
Officials of KGLI, the Embassy of Kuwait, the Department of Foreign Affairs, Clark International Airport Corp., Clark Development Corp., government and business leaders as well as representatives of global investment companies attended the ground breaking ceremony.
“In the coming years, together we will see this patch of land grow into a strong and vibrant city. Much more, we see it growing to become a major symbol of Central Luzon’s rise to economic prominence in the Philippines and in Asia,” Williams said.
Williams said the groundbreaking for the Aeropark Campus represents an exciting phase in the development of GGLC, a mixed-use and master-planned office and logistics district strategically located next to the Clark International Airport.
GGLC is a major real estate development that will entail the investment of $5 billion in new facilities. GGDC has a 50-year lease on the property, with an option to renew for 25 years.
“This, you could say, is our field of dreams. We will build it and they will come. Over the
next 10 years, these 177 hectares of land will create over 300,000 jobs, and will impact over 1.5 million Filipino lives,” Williams said.
“There will be over 300,000 empowered consumers who will inject their income back into this regional economy, creating an ever growing dynamic cycle of growth and prosperity,” he added.
Once completed, GGLC will house over 5.8 million square meters of premier office and logistics space along with supporting retail, hotel and residential properties.
GGDC President Michael Russell said the the five Quad 1 office buildings will meet Leadership in Energy and Environmental Design (LEED) standards, with current building submissions already qualifying as precertified LEED Gold and with a target of LEED Platinum.
“Upon full build-out, Quad 1 of the Aeropark Campus will consist of 142,000 square meters of retail and office space built to the highest standards of quality for the express purpose of transforming the Clark Freeport Zone into one of the most sought after destinations of choice for business, culture and leisure services, not only in Asia-Pacific or more specifically, in the Philippines…but in the world,” Russell said.
Russell said floor plans have been designed for optimal fit-out for office and business process outsourcing (BPO) clients ranging from 2,100 to 3,100 sq m. Each building will have two floors devoted to retail to service tenants, nearby locators and the local community.
“Building redundancy/resiliency measures will include the use of . . . backup power utilizing prime generators and onsite storage of fuel, gas and water . . . Construction begins mid-November 2015 with a completion date of May 2017 for Phase I of the Aeropark Campus,” Russell said.
GGDC has tapped world-class architectural and engineering firms, including AIDEA of architect Abelardo Tolentino Jr., Meinhardt, Sy2, Barone International and Inspira to assist in designing the Quad 1 office buildings and supporting amenities.”
Local firm EEI Corp. will be in charge of construction.
Williams said CBRE was coordinating pre-leasing arrangements.
The first phase of the project will be bankrolled by Hong Kong-based private equity firms ADM Capital and BPE Asia Real Estate, which recently committed an initial $150 million.
ADM Capital is a fund manager with headquarters in Hong Kong while BPE Asia Real Estate is an affiliate of Baring Private Equity Asia, which also has an office in Hong Kong.
Clark Freeport, located 80 km north of Metro Manila, is well-positioned to thrive as a BPO and logistics hub, given the large population of skilled workers in Central Luzon and its proximity to the Philippines’ capital.